Paymentology's $175M raise, four fund closes, and $500M+ in VC (TWIF 5/16)

Paymentology, a London-based global issuer-processor supporting card and digital payment programs across 68 countries, raised $175 million to fuel international expansion and product development.

Elliptic, a digital asset surveillance and blockchain analytics platform, raised $120 million in a Series D round at a $670 million valuation to scale its compliance and crypto monitoring capabilities.

Augustus, an AI-native crypto banking platform that received conditional OCC approval, raised $40 million in an undisclosed round.

LemFi, a London-based remittance and cross-border payments platform built for immigrants, raised a €30 million (approximately $33 million) Series B extension.

Embat, a Spanish AI-powered treasury management platform serving mid-market businesses, raised a €30 million (approximately $33 million) Series B to accelerate expansion.

Fifth Dimension, a London-based decision intelligence platform for real assets investors that uses agentic AI to automate deal screening, underwriting, and portfolio monitoring, raised $26 million in a Series A round.

Stitch, a cloud-native core banking operating system targeting legacy infrastructure replacement at financial institutions across the GCC and MENA region, raised $25 million in a Series A round.

Adfin, a London-based agentic finance platform that automates payment collection and cash flow workflows for SMEs, raised $18 million in Series A funding.

Outmarket AI, a San Francisco-based AI platform purpose-built for insurance agencies and brokers across commercial, benefits and personal lines, raised $17 million in a Series A round.

Capital B, a France-based bitcoin treasury company, raised €15.2 million (approximately $17.8 million) through a private placement to accelerate its bitcoin accumulation strategy.

Osero, a stablecoin yield infrastructure provider, raised $13.5 million.

Turnkey, a wallet and crypto private key management infrastructure startup, raised $12.5 million in a strategic round to fund the public launch of its Verifiable Cloud product for digital assets.

Onramp raised $12.5 million in Series A funding scale its multi-institution bitcoin custody platform for large holders who want security without managing private keys.

Exponent, a financial platform providing growth lending, a franchise-focused corporate charge card, and AI-powered accounting tools for multi-unit franchise operators, raised $10 million in a Series A round.

Sindhuja Microcredit, an India-based microfinance institution, raised $5 million in a pre-Series D round.

Boundary Labs, a New York-based startup building institutional-grade stablecoin infrastructure, raised $2 million to develop and launch USBD, a stablecoin.

TwoWay, a Paris-based institutional trading intelligence platform that processes broker messages, pricing updates, and market indications across FX and fixed-income desks at tier-1 banks, raised €1.5 million (approximately $1.6 million) in a pre-seed round.

Grove, a blockchain-based credit infrastructure firm, launched Basin, a $1 billion credit facility enabling instant stablecoin redemptions from BlackRock's BUIDL and Janus Henderson's Anemoy Treasury Fund, with Securitize, Centrifuge, Anchorage Digital, Galaxy Digital and FalconX as partners.

Buy now, pay later fintech Sezzle secured a $300 million receivables funding facility with Mesirow Alternative Credit, doubling its prior capacity and cutting its cost of capital by nearly 290 basis points.

Ripple Prime, Ripple's multi-asset prime brokerage platform, secured a $200 million funding facility from Neuberger Berman to expand margin financing capacity for institutional clients trading traditional and digital assets.

Centra Funding, an equipment finance company that serves small and midsize businesses, closed a $175 million credit facility led by Capital One.

Mettle Capital, a new venture firm launched by three former Peak XV Partners managing directors, is targeting a $350 million to $400 million debut fund focused on backing Indian startups across sectors including fintech and AI.

Duration Ventures, founded by former Lightspeed and General Catalyst investors Arif Janmohamed and Trevor Oelschig, is targeting a $375 million inaugural fund to invest in early-stage enterprise AI.

Restive Ventures closed its third fintech-focused fund at $45 million after an 18-month fundraising process, with backing from banks, financial institutions, and strategic LPs interested in AI’s convergence with financial services.

Silicon Road Ventures and former Bank of America India managing director Ajay Mahajan launched an approximately $18 million India-focused fund to invest in agentic AI startups serving B2B commerce and retail infrastructure, and said the vehicle has already reached a first close and begun deploying capital.

Robinhood confidentially filed with the SEC for Robinhood Ventures Fund II (RVII), a second public venture fund targeting early-stage and growth-stage private companies, following Fund I's $1 billion market cap milestone.